What is Bitmart?
BitMart is an online marketplace that allows users to buy Bitcoin anonymously.
BitMart is a peer-to-peer cryptocurrency exchange platform that allows users to trade
cryptocurrencies without having to register with any financial institution. Users can also purchase Bitcoin through BitMart using credit cards, debit cards, bank transfers, or cash.
Today we shall talk about Bitmart, its Pros and Cons, Features, and How to use it.
The platform is becoming more popular as time goes on and this is because of:
-It allows traders to buy, sell, and trade cryptocurrencies.
-It allows crypto staking.
–The platform allows lending which earns you rewards.
-Supports hundreds of cryptocurrencies.
And the biggest and best advantage is that It allows the purchase of crypto by all methods including cash and bank transfers.
With this knowledge now we can look at its Pros and Cons
It allows trading fee discounts in some trades.
It has a large selection of altcoins to choose from
The platform has standard and advanced trading platforms. For beginners, they can use the standard mode before they become professionals and move to the advanced platform. That doesn’t mean the standard platform is for beginners but it is much easier to understand than the advanced platform.
Lastly, you can also forward trade on the platform.
Forward trading is an alternative to spot price buying and selling. In that, the trader buys a commodity and holds it with the intention of selling it when the price of the commodity rises.
Its trading interface is a bit difficult for crypto beginners to understand.
In areas such as New York, it has potential and unavailability issues.
In 2021, it happened to be hacked thus people lost their funds. After that its security protocols were upgraded but the act infused fear in investors.
Now that its security protocols were updated I believe it will regain its glory and grow even bigger than before.
How to use Bitmart.
You will need to have an account on the platform first. If you don’t already have an account click here to create one.
After creating your account it would be best if you verified it immediately so that you can get the full account use i.e. not be limited to a few activities. To verify your account you can upload copies of your ID, passport, or driving license.
1 After creating an account click on “Buy and Sell” which is on the topmost menu
2 After that you will land on a page where you should choose the crypto you want and enter the amount you wish to spend.
3 You will then get a page for you to select the best offer for you. When selecting your offer ensure to look at the arrival time.
4 Complete your order and wait for the arrival time.
Lastly, the fees charged on a transaction are based on the maker/taker model. 0.150% is charged for the maker and 0.200% charged on the taker. The fees are calculated based on the trading volume over a 30-day period, account level, and the BMX balance.